Mobile banking use has swelled since the pandemic hit, and law enforcement officials expect hackers to target the credentials of digital novices. The FBI stressed the importance of two-factor authentication and ensuring consumers know how to spot fake apps that carry malware.
Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.
The coronavirus shutdowns have tossed businesses into disarray in numerous ways, most notably the tricky transactions that come with operating a restaurant as a drive-through for the first time.
Customers normally receive debit and credit cards inside a branch. Now banks are shifting the process to their drive-throughs and finding alternative ways for cardholders to key in their PINs.
Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster.
Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.
The Texas bank is leaning on solutions from Lightico and MANTL to quickly set up accounts and handle loans when customers can’t sign documents in person because of the coronavirus emergency.
Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.
New digital tools have boosted advisors' ability to reach more — but not all — clients.
Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.